Day: March 3, 2025

Oil prices stable as tariff and Ukraine uncertainty dominates sentiment

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Oil prices

LONDON: Oil prices were little changed on Monday after registering a monthly loss for the first time since November, while investors await the outcome of efforts to end the Russia-Ukraine war and repercussions from U.S. tariffs. Brent crude rose 11 cents, or 0.15%, to $72.92 a barrel by 1105 GMT while U.S. West Texas Intermediate crude was up 3 cents, or 0.04%, at $69.79. Ukrainian president Volodymyr Zelenskiy said on Sunday that he believed he could salvage his relationship with U.S. President Donald Trump. However, he said talks needed to…

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KE launches ‘Energy Progress & Innovation Challenge 2025’

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KE launches

KARACHI: Committed to fostering creativity, innovation, and localisation in the energy sector, K-Electric has launched Energy Progress & Innovation Challenge (EPIC) 2025. Building on the resounding success of its pioneering 7/11+ Innovation Challenge introduced in 2022, EPIC will unite entrepreneurs, academia, researchers, and think tanks to develop cutting-edge solutions for the energy industry. Innovators may address K-Electric’s predefined challenge statements or propose their own transformational ideas. This year’s EPIC Challenge spotlights carefully deliberated themes that align with regulatory priorities and key customer challenges, including “Tamper-proof PMT-based load-shedding solutions” to enable…

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Negotiations with IPPs are free, fair and transparent with option to walk away or resorting to Arbitration and forensic audit : Awais Leghari

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Awais-Leghari

Federal Minister for Power Sardar Awais Ahmed Khan Leghari today attended a detailed session with Power Sector International Development Partners on Power Sector Reforms and its way forward.The development partners were led by Country Director World Bank Mr. Najy Benhassineand included representatives from IMF,ADB, IFC,KFW, German Embassy, FCOD, UNDP and AIIB,The Federal Minister apprised the participants about the reforms that the power division has undertaken to bring in efficiency and discipline with targets to bring the electricity prices to more competitive and affordable for all consumers in general and industry…

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Minister Energy Sindh Nasir Shah asked KE HESCO SEPCO & SSGC to stop load shedding in Sindh

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Nasir-Shah

Karachi Sindh Energy Minister S Nasir Hussain Shah has warned that load-shedding of electricity and gas must be stopped in Sindh, and uninterrupted supply should be ensured during Ramadan. Despite his warnings, electricity and gas companies, including K-Electric, Hesco, and Sepco, have not improved their performance.¹ Shah emphasized that the federal government should take immediate notice of the situation, as the public should not be inconvenienced during Ramadan. He questioned why gas load-shedding continues despite the end of winter in March. The minister appealed to the Prime Minister to ensure…

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Iranian Finance Minister removed on poor performance

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Iran-Inks

TEHRAN Iranian lawmakers on Sunday gave a vote of no confidence to the minister of Economic Affairs and Finance, terminating the term of Abdolnaser Hemmati 193 days after he took office. Hemmati attended an open session of the Parliament on Sunday and took the podium to answer the questions of a number of lawmakers, complaining about his ministry’s performance and poor handling of the economic situation.At the conclusion of the impeachment, the parliamentarians voted for the motion to dismiss the minister with 182 votes in favor, 89 no votes, and…

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